Economy
US seizes $1 bn worth of fake luxury goods in NY
Anyone who walks the streets of Manhattan can observe sidewalk vendors hawking counterfeit luxury products. From January through the end of October, the two defendants, Adama Sow, 38, and Abdulai Jalloh, 48, allegedly ran a large-scale knockoff goods ring out of storage facilities in Manhattan, authorities said.
US regulator greenlights Starship's next launch on Friday
The US Federal Aviation Administration (FAA) on Wednesday authorized SpaceX to carry out its second launch of Starship, the most powerful rocket ever built, after a first attempt in April ended in a spectacular explosion. On April 20, SpaceX blew up the uncrewed rocket four minutes after it blasted off.
Renault tries to lure investment for new electric car unit
French automaker Renault on Wednesday held an investors day for its new electric vehicle subsidiary Ampere, hoping to win over investment with slashed costs and an electric car costing less than 20,000 euros ($21,600).
PepsiCo sued by New York state over plastic pollution
New York state sued PepsiCo on Wednesday, pointing to the soda giant's plastic waste as a scourge of waterways and blasting the company's "misleading" statements on the environment. The plastics "cause wide-ranging harms to the public and New York State," said the suit, which points to the presence of microplastics throughout the human body and fish game species.
Media mogul Murdoch says he'll stay 'active' after passing torch
Conservative media mogul Rupert Murdoch, who hands control of his empire to son Lachlan this week, on Wednesday pledged to maintain an "active role" in the business and slammed "intolerant" elites for silencing debate one year before the 2024 election. The 92-year-old Murdoch formally passes the torch to 52-year-old Lachlan at News Corp on Wednesday.
UK rental market suffers record price rise
UK housing rental prices spiked by a record rate with London hit particularly hard, official data showed Wednesday, stoking a cost-of-living crisis as inflation remains elevated despite a sharp slowdown. UK inflation also remains the highest among the G7 rich nations and is more than double the Bank of England's official two-percent target.
Czech court nixes ex-PM Babis's acquittal in EU fraud case
Former Czech billionaire premier Andrej Babis will go back to court over an EU fraud case after an appeals court cancelled his acquittal, a specialised judiciary website said Wednesday. The High Court in Prague scrapped the January verdict acquitting Babis because of "insufficient and wrongly used evidence", said the Ceska justice (Czech Judiciary) website.
US retail sales, producer prices register October fall
Retail sales in the United States fell slightly in October, according to government data published Wednesday, fueled by a large drop in consumer spending at furniture and home furnishing stores. Spending at furniture and home furnishing stores saw the largest monthly decline in October, falling by 2.0 percent from a month earlier.
No relief: Nigerians get poorer as inflation rate hits 27.33%, residents of 3 states worst hit
The National Bureau of Statistics has revealed that Nigeria's inflation rate has increased once again in the month of October, marking the 10th consecutive rise.
Economy
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